Multiple Choice
The minimum daily average reserve requirement is computed by
A) multiplying the reserve ratio by the daily closing deposit balance.
B) multiplying the reserve ratio by the daily average closing deposit balance.
C) dividing the reserve ratio by the daily average closing deposit balance.
D) dividing the reserve ratio by the daily closing deposit balance.
E) adding up daily closing deposit balances and dividing by 14.
Correct Answer:
Verified
Correct Answer:
Verified
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